Genesco now anticipates earnings of $1.78 to $1.84 per share for the fiscal year. Its previous outlook was for a profit of $1.70 to $1.80 per share. The retailer said its updated forecast assumes fourth-quarter earnings of $1.07 to $1.13 per share.

Analysts predict 2010 earnings of $1.75 per share and fourth-quarter profit of $1.15 per share.

Genesco's stock fell $2.17, or 7.6 percent, to $26.37 in midday trading. The share have traded in a range of $10.82 to $29.69 over the past year.